Crop and Pasture Science Crop and Pasture Science Society
Plant sciences, sustainable farming systems and food quality

Stochastic dominance and mean-standard deviation analysis: some critical issues

KA Parton and PS Carberry

Australian Journal of Agricultural Research 46(7) 1487 - 1491
Published: 1995


Stochastic dominance and mean-standard deviation analysis can be effective procedures for ranking risky alternatives that are expressed in terms of probability distributions of outcomes. However, the conditions applying to their use and their limitations need to be understood. These are set out in the paper, together with an extension that overcomes some constraints to the use of stochastic dominance analysis.

Keywords: crop modelling; risk; stochastic dominance; mean-standard deviation analysis; generalized stochastic dominance

© CSIRO 1995

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